Kishore Narne of Anand Rathi Commodities exoects silver to underperform gold going ahead. He has a bearsih outlook on silver and expects it be in the range of Rs 54,000-60,000 for whole of FY12.
"Probably at Rs 54,000 is what we are looking for in India and on the upper side trajectory it will be Rs 60,000, told CNBC-TV18.
Meanwhile he expects gold to be in the range of Rs 27,000-28,500 per 10gms for the next couple of months.
Below is the edited transcript of the interview. Also watch the accompanying video.
Q: At current levels of crude is there still a shorting opportunity?
A: Not really because we are seeing USD 101-102 for WTI is a very good support. We are just below USD 120 on Brent because more or less the issues are still there. The demand is still very much picking up because the inventory filling activity in Organisation for Economic Co-operation and Development (OECD) countries is happening. It may not be consumption demand, but inventory demand is still very high.
If there is a Strategic Petroleum Reserve (SPR) release then crude will be having a kneejerk reaction and it could fall towards USD 95 for WTI and USD 115 for Brent. If that doesn